THE European Union and the Gates Foundation will invest over 100 million euros ($113.4 million) over the next five years to help set up an African medicines regulator to boost the continent's drugs and vaccine production, the EU Commission said. The announcement, which confirms a Reuters report last week, comes ahead of a summit on Thursday of EU and African Union leaders when the EU is expected to reiterate its commitment for a 150-billion-euro investment package in Africa. A treaty establishing the African Medicines Agency (AMA) came into force in November but the agency currently exists only on paper. So…